nearly two years later Buy Waldorf Astoria Monarch Beach Resort & Club in Dana PointOhana Real Estate Investors, is in the final stages of a $30 million guest room renovation.
Acquired by Ohana in November 2020 for $497 million, the five-diamond resort is managed by Hilton and is expected to complete renovations later this month.
Ohana Real Estate Investors Partner James Cole said:
Each of the resort’s 400 guest rooms and suites has new floors, furnishings, and finishes. Other upgrades include fireboxes for 77 rooms and suites on the ground floor.
The resort converts 20 studio suites into one-bedroom suites with separate living rooms and private terraces.
The Waldorf Astoria portfolio includes 32 resorts. Monarch Beach Resort, under the St. Regis brand, he opened in 2001 but closed in 2016. Blufftop Resort sits on 162 acres with a 6-acre beach club, 3 swimming pools and an 18-hole golf course.
For more information, waldorfastoriamonarchbeach.com.
Costa Mesa Warehouse Sold to Santa Monica BLT
BLT Enterprises of Santa Monica paid $23.25 million for a 12,620-square-foot warehouse building on 3.02 acres of industrial land in Costa Mesa.
Located at 3539 Howard Way and next to another BLT-owned property operated by FedEx, the vacant building will allow investment firms to acquire transportation and logistics tenants.
The purchase was part of a deal of seven buildings in Southern California totaling $130 million. Located in Los Angeles, Orange and San Diego counties, he has a 270,000 square foot building on 18 acres.
“Using the investment and market acumen of our experienced team, BLT saw an opportunity to expand its footprint in the Southern California market, where it actively owns and manages creative offices and industrial real estate. .
Affordable housing investment firm closes fund at $153 million
WNC, an Irvine-based investment firm that specializes in affordable housing, closes WNC Agency Tax Credit Fund 53, LP, a low-income housing tax credit fund with $153.4 million in equity Did.
Funding will come from nine institutional investors and will be used to build and renovate more than 1,300 affordable housing units across 16 properties, including 10 states, including California, and the District of Columbia, according to WNC. increase. Some housing units are sent to veterans. Homeless, formerly homeless, or at risk of becoming homeless. Residents with mobility, hearing or vision impairments.
According to WNC, the total capital raised since its inception now exceeds $7 billion.
“For more than 50 years, WNC has worked with investment partners to provide safe, high-quality, affordable housing for families in need across the country.
VCA of Orange Merges with Denver Company
VCA Consultants, an Orange-based structural engineering consulting services firm, has merged with Denver-based Enayat Schneider Smith Engineering Inc.
The two companies will co-brand for a short period of time until ESS transitions to VCA Structural. Tom VanDorpe will serve as president and CEO of both locations, according to VCA principal Mark Van Gaale.
With the addition of ESS, VCA expands its operations into the Rocky Mountain region. VCA employs his 170 people and has offices in Orange, Oakland, Chicago, Honolulu and now Denver.
“We are extremely proud of our partnership with ESS,” said VCA CEO Tom VanDorpe. VCA is committed to excellence, which aligns with our business philosophy.”
Chicago Title National Commercial Services California, part of Fidelity National Financial Group, has launched Chicago Title Hospitality Group.
The new group will be led by hotel industry veteran Stephen L. Senft as Vice President of Domestic Sales. He is based in his Chicago titled Newport Beach office.
Senft has 24 years of experience in the hospitality industry. During his career, he has been involved in the sale, development, management, advisory and financing of his over $15 billion in hotel assets representing over 1,000 hotels.
Real estate deals, leasing, new projects, industry jobs, new businesses and upcoming events are compiled from press releases by contributing writer Karen Levin. Email your product and high resolution photos to Business Her Editor Samantha Her Gowen. [email protected]Please allow at least a week for publication. All items may be edited for clarity and length.